QFD 24.02/24.02.01
- Hannah Richardson
About the Release
Welcome to QFD Version 24.02!
This version introduces many exciting features designed to make QFD a one-stop shop for Fraud & Disputes!
With new supported transaction types and brand new interactive reports, QFD Version 24.02 can help you manage and monitor risk.
Reach out to your Customer Success Manager to get started!
Table of Contents
Disputable Transaction Types
Disputes can occur on many different types of transactions. Within QFD Version 24.02, additional disputable transaction types were added with questionnaires designed to collect all relevant information to process a claim. Enabling these specialized transaction types allows your customers/members to have a consistent claim experience regardless of which transaction type they are disputing.
Users now have the ability to enable the following transaction types to be disputable within QFD:
ACH ATM Deposits ATM Withdrawals Balance Transfers (NEW) Barcode (NEW) Bill Pay (NEW) Card Pinless Card Pinned | Check Convenience Checks (NEW) P2P RTP Credits (NEW) RTP Debits (NEW) Wire Zelle Fraudulent Card Credits (NEW) |
Users also have the ability to determine which transaction types can be disputable via self-service.
When a new transaction type is enabled, additional configurations are available to customize the claim flow!
Auto Pay and Auto Provisional Credit Settings
Auto Pay and Auto Provisional Credit thresholds can be configured at a transaction type level.
Request Documentation
Configurations are available to request a return statement from the customer/member based on the transaction type in dispute. Users can configure to request a return statement for fraud, non-fraud or all claims based on the transaction type.
When enabled the Statement of Fraud or Statement of Dispute letter will be sent as an attachment to the Confirmation letter.
Fraudulent Card Credit Disputes
Users can now enable fraudulent disputes on credit transactions.
Disputing a credit transaction type results in an Unduly Enriched claim. Users will receive an alert on these claim types indicating the dispute was initiated on a credit transaction, which typical means that recovery will involve debiting the claimant for the amount owed.
Prior to debiting the claimant, a new Merchant Debit Check will be performed to locate a debit associated with the credit in dispute.
If a debit is identified a new denial letter is available!
Please see the Merchant Debit Letter for additional information!
Account Takeover - Mixed Transaction Types
QFD is organized to allow one dispute reason for each claim. This allows users to initiate a multi-dispute claim all for the same dispute reason.
For example, if a cardholder was a victim of fraud, they may initiate a dispute with both ATM transactions and card transactions.
When a cardholder is a victim of Account Takeover they may have a variety of transaction types that require a dispute. When multiple credit card transaction types are disputable within QFD, users can now initiate one claim with all of the following transaction types:
- ATM Transactions
- Card Pinned/Pinless
- Convenience Checks
- Balance Transfers
Automated Abandoned Claim Flow
A new configuration is available to assist users on responding to claims cancelled or abandoned during intake.
Prior to QFD Version 24.02, users had the ability to route claims that were cancelled or abandoned during intake to a user for additional review.
When configured to review these claims, if a claim was abandoned past the Transaction Selection screen, a user had to determine if a claim needed to complete intake and submit the claim or resolve the claim as abandoned.
QFD Version 24.02 is introducing additional configurations that will allow users to add specific claim intake cancellation reasons and configure which of those reasons require a user to review.
If a cancelled/abandoned claim does not require review, a configuration is available to automatically send the Abandoned Claim letter to the accountholder.
Talk to your Customer Success Manager to get started!
Business Intelligence Reports
New Business Intelligence reports are available and bring clients a more accessible and robust set of tools for monitoring the performance of QFD and it's users.
Users will notice improved performance, deeper, more refined data, and visualizations that provide quick answers to common questions.
Access the Business Intelligence Reports
To access the new Business Intelligence reports, click on the Reports dropdown located in QFD.
The following reports are available as part of QFD Version 24.02
| Category | Available Reports |
|---|---|
| Cases | |
| Compliance | |
| Correspondence | |
| Financial | |
| Performance | |
| Recovery | |
| Risk | |
| Work |
Dashboard Metrics & Visuals
Key metrics are displayed on Business intelligence Dashboards
Expose Underlying Data
Users can expose and download the data utilized for the dashboard by clicking on the ellipses menu:
Filtering Results
Filters can be applied to all Business Intelligence reports. When the filters are applied metrics, visuals and data will update:
Workforce Efficiencies
This release includes a series of efficiencies to reduce unnecessary user interaction.
Automatic Status LetterReduce call center status calls with the new Status Update letter! With QFD Version 24.02, users can enable a status letter to go out to the accountholder periodically throughout the life of the claim. For additional details, please see the Status Update confluence page and reach out to your Customer Support Manager to get started! | Provisional Credit & Pay Decision Post Merchant Credit CheckAvoid unnecessary losses by enabling a Pay of Provisional Credit threshold after a merchant credit check is performed! A new threshold reviews the dispute after the initial submission decision and a merchant credit check is performed. For example:
If a cardholder initiates a claim for $25.00, upon claim submission, the claim would not automatically receive a provisional credit. After the claim is submitted a merchant credit check will be performed and if there are no matching credits, a provisional credit decision and a provisional credit letter will be made systematically completed. | Alt-Network Pend ReviewA new assignment can be enabled to review Alt-Network chargebacks responses before the chargeback SLA has expired. Today, when an Alt-Network chargeback is pursued, users must manually check for a chargeback response or wait until the SLA for an acquirer response. Waiting for the SLA to expire causes unnecessary risk that a representment was received earlier, resulting in users having reduced timeline to continue recovery. When the new assignment is enabled, a pending assignment is created after an Alt-Network chargeback is performed to review for response instead of waiting for the Alt Network SLA to expire. |
Merchant Credit EnhancementsIn an effort to reduce unnecessary actions, enhancements have been made to merchant credits. Previous applied merchant credits have been moved to an expandable list, and a daily check has been added to remove Check for Credit assignments if the credit was already applied to another dispute. Applied Credits List
| Same-Day ATMAdded a configuration that allows users to enter same-day manual ATM transactions into dispute. | Write-Off Approval UpdatesUpdated the Write-Off Approval threshold to ensure that if any dispute qualifies for Write-Off Approval all disputes on a claim would route for approval. Prior to QFD Version 24.02, only disputes above the threshold were routed for approval, which could result in a claim with mixed decisions. With QFD, all disputes route for approval to ensure accountholders have a consistent claim experience. For example: When configured to send for approval if any dispute write off amount is greater than $300. or the claim total value is over *$700*.
Dispute 1 was over the dispute threshold, so all three disputes would route for Write Off Approval. |
First-Party FraudIn an effort to enhance the Claim Abuse flow a new question will be required when resolving a fraud claim that was manually investigated by a user. Users will be required to answer a question to determine if first-party fraud is suspected. Do you suspect First-Party Fraud?
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Configurations
The following compliance configurations were added as part of QFD Version 24.02:
- Configure SLA for Pending Documentation for requested chargeback documents
- Disable ability to suppress required correspondences
- Deny Justifications for Fraud Application claims
- Configuration to disable mixed ATM and Card transactions on the same claim
Correspondences
The following compliance changes were made to the following correspondences:
- Final Resolution Paragraph Update
- Out of Timeframe
- "Affidavit" verbiage removed from the Statement of Fraud
- Dispute Amount Increased
- Additional Information opening paragraph
- Fraud Application Deny letter includes Deny Justifications
- What Happens Next bullet added to address block/reissue
Process
The following compliance changes were made within QFD:
Reopened claims with invalid denials will reinstating original Regulatory Dates
Resolved email failures better, with automated retry attempts depending on the reason for the failure. For failures that are not recoverable, QFD will automatically update the correspondence channel to paper mail.
A new intake question was added when applicable to determine if the dispute is in regards to the cash-back portion of the transaction.
Reg E allows an extension from 45 days to 90 days for final resolution if the transaction occurred within the first 30 days of account opening. Support was added yo extended Reg E resolution (from 45 to 90) when claims also qualify for RegE20.
Added audit entries when a user opts to suppress or cancel a letters from sending
QFD Version 24.02 introduces a feature that enables processors and servicers to split work between their own resources and their clients. This allows them to offer a tiered service structure on a client-by-client basis
Tiered Services
Processors can segment claim tasks and calculate billing splits where work is distributed to their client(s).
Processor Tasks View
When claim tasks are segmented, processors will only have access to relevant assignments:
Communicating with Clients
When using Tiered Services within the Interaction Application, processors can communicate with their clients by using the Send Message options on active claims that require additional information from the customer or the client.
